Once left for dead, the sports memorabilia market is seeing tremendous growth.
Goldin Auctions, an eight year-old auction house for trading cards, athletic wear, and other sports collectibles, announced a $40 million fundraise led by The Chernin Group — which is taking a majority stake in the company.
The haul attracted big-name investors: Kevin Durant, Dwayne Wade, Mark Cuban, Bill Simmons, Logan Paul, YouTube co-founder Chad Hurley and a host of other athletes, executives and celebrities.
Interest in sports cards has exploded during the pandemic, as people look both for hobbies and solid stores of value amid economic uncertainty.
- In August, an autographed Mike Trout rookie card sold through Goldin Auctions for $3.94 million.
- Last month, a 1952 Topps Mickey Mantle card auctioned through a private sale for $5.2 million.
Goldin Auctions grossed over $100 million in 2020. The company oversaw more than $36 million in sales this past January, led by cards that span sports and generations from Patrick Mahomes to Michael Jordan.